Arizona’s newest public company, Grand Canyon Education Inc. (Nasdaq:LOPE), lost 15 cents off Wednesday’s initial public offering price of $12.
All but one of the state’s billion-dollar-plus public companies saw a drop in stock price. Petsmart Inc. (Nasdaq:PETM), bucked the trend moving to $14.82 per share, a gain of $1.52. Amkor Technology Inc. (Nasdaq:AMKR) took the heftiest percentage loss — 17.9 percent — closing at $1.74 per share. Dollarwise, Freeport McMoRan Copper & Gold Inc. (NYSE:FCX) took the biggest hit with a $2.64 per share drop to close at $17.60.
The Dow has fallen steadily amid the nation’s economic woes, off from its most recent peak above 13000 in May. The Nasdaq composite lost 5.1 percent of its value, closing at 1316, while the S&P 500 ended trading at 752, down 6.7 percent.
